Property Malta Launched
In 2017, a public-private foundation was set up to develop Malta’s property industry and promote local properties to foreign buyers. This was an initiative set up by the Government of Malta and the Malta Developers Association. The project involves the promotion of Malta’s lifestyle, its identity and its position as a leading destination for investors who are interested in purchasing property in the middle of the Mediterranean.
The Property Malta Foundation has been established with four trustees who were nominated by the Government, and another four selected by the MDA. The press release regarding the first meeting of the foundation highlighted their main aims and objected to be achieved, which are mainly concerned with providing a platform for the promotion of Maltese property abroad, co-financing and other means to support the international promotion of this initiative within the private sector. This foundation aims to develop a position strategy for the industry whilst providing guidance and assistance to international buyers, which will subsequently result in the promotion of Malta and Gozo as a quality lifestyle destination with the suitable property development.
The Foundation will bring together various stakeholders, including property developers, estate agents, brokers, property owners, advisors and anyone interested in the selling of residential and commercial properties to foreign investors. The Government and MDA must form a sound marketing plan for the promotion of such property overseas. It has been held that this will include the participation in international investment shows and events as well as using other initiatives such as PR and advertising to attract buyers.
The President of the Mala Developers Association, Sandro Chetcuti expresses his faith in the success of this project “I am confident that the Property Malta Foundation will fulfil its extensive remit and attract investment in the property market, enabling our country to achieve its full potential as an international residence of quality”